7 King Street Thetford Norfolk IP24 2AN

7 King Street
Thetford
Norfolk
IP24 2AN

Freehold Retail Investment

Let to WH Smith Retail Holdings Limited on a 5 year lease renewal
Tenant in occupation since at least 2010
Re-based rent
Prime pedestrianised retailing thoroughfare
Nearby occupiers include Poundland, Superdrug, Peacocks, Greggs and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
16
Auction
19th May 2016
Rent
£30,500 per Annum Exclusive
Status
Sold
Price
£430,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of CBRE Receivers

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Freehold Retail Investment

Let to WH Smith Retail Holdings Limited on a 5 year lease renewal
Tenant in occupation since at least 2010
Re-based rent
Prime pedestrianised retailing thoroughfare
Nearby occupiers include Poundland, Superdrug, Peacocks, Greggs and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 16
Auction 19th May 2016
Rent £30,500 per Annum Exclusive
Status Sold
Price £430,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of CBRE Receivers

Property Information

Location

Miles: 13 miles north of Bury St Edmunds, 35 miles south-west Norwich, 35 miles north-west of Ipswich
Roads: A1066, A11, A134
Rail: Thetford
Air: Stansted Airport

Situation

The property is situated on the southern side of the prime pesestrianised retail pitch. Nearby occupiers include Poundland, Superdrug, Peacocks, Greggs and Costa. There is a car park to the rear of the property for approximately 58 car spaces.

Tenure

Freehold.

Location

Miles: 13 miles north of Bury St Edmunds, 35 miles south-west Norwich, 35 miles north-west of Ipswich
Roads: A1066, A11, A134
Rail: Thetford
Air: Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a three storey building with retail accommodation at ground floor level and additional storage and staff areas on the first and second floors. The property benefits from a small service yard area to the rear.

Six Week Completion

Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First Second	Retail/Ancillary Ancillary Ancillary	225.66 sq m 18.77 sq m 27.03 sq m	(2,429 sq ft) (202 sq ft) (291 sq ft)	WH SMITH RETAIL HOLDINGS LIMITED (1)	5 years from 2016 on a full repairing and insuring lease (2)	£30,500 (2)	2021
Totals		271.46 sq m	(2,922 sq ft)			£30,500 (2)

(1) For the year ending 31st August 2014, WH Smith Retail Holdings Limited reported a turnover of £164,447,000, pre-tax profits of £105,938,000 and a total net worth of 466,645,000 (Source: Experian Group 20/04/2016).
(2) The property is currently let to WH Smith Retail Holdings Limited on a 5 year lease from 26/08/2010 at a rent of £34,500 p.a.x. Terms for a new five year lease have been agreed and are currently in solicitors hands due to complete imminently.